Page 411

House Bill No. 5506

Public Act No. 22-118 411 of 739

be adjusted proportionately if necessary to stay within the appropriation. Payment pursuant to this subsection shall be made in June. For purposes of this subsection, a town's eligible excess costs are the difference between its net costs of special education and the amount the town would have expended if it spent at the state-wide average rate. (d) Notwithstanding the provisions of this section, for the fiscal [years ending June 30, 2004, to June 30, 2007, inclusive, and for the fiscal years ending June 30, 2010, to June 30, 2023, inclusive, the amount of the grants payable to local or regional boards of education in accordance with this section, except grants paid in accordance with subdivision (2) of subsection (a) of this section, for the fiscal years ending June 30, 2006, and June 30, 2007, and for the fiscal years ending June 30, 2010, to June 30, 2023, inclusive, shall be reduced proportionately if the total of such grants in such year exceeds the amount appropriated for the purposes of this section for such year.] year ending June 30, 2023, and each fiscal year thereafter, if the total of the amount of the grants payable to local or regional boards of education in accordance with this section, except grants paid in accordance with subdivision (2) of subsection (a) of this section, in any fiscal year exceeds the amount appropriated for the purposes of this section for such fiscal year, then each town shall be ranked in descending order from one to one hundred sixty-nine according to such town's adjusted equalized net grand list per capita, as defined in section 10-261, and the state board shall pay such grant to the local or regional board of education for a town as follows: (1) For any town ranked one hundred fifteen to one hundred sixty-nine, inclusive, seventy-six and one-quarter per cent of the amount of such town's eligible excess costs, (2) for any town ranked fifty-nine to one hundred fourteen, inclusive, seventy-three per cent of the amount of such town's eligible excess costs, and (3) for any town ranked one to fifty-eight, inclusive, seventy per cent of the amount of such town's eligible excess costs. In the case of a regional board of education, such ranking shall be determined by (A) multiplying the total population, as defined in